Parallel Advisors LLC Has $582,000 Position in Datadog, Inc. (NASDAQ:DDOG)

Parallel Advisors LLC boosted its holdings in Datadog, Inc. (NASDAQ:DDOG) by 8.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,070 shares of the company’s stock after purchasing an additional 319 shares during the quarter. Parallel Advisors LLC’s holdings in Datadog were worth $582,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Corient Private Wealth LLC grew its position in Datadog by 0.9% in the 4th quarter. Corient Private Wealth LLC now owns 13,118 shares of the company’s stock valued at $1,874,000 after purchasing an additional 115 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Datadog by 35.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 23,868 shares of the company’s stock valued at $3,410,000 after purchasing an additional 6,310 shares during the period. Natixis Advisors LLC grew its position in Datadog by 12.3% in the 4th quarter. Natixis Advisors LLC now owns 82,993 shares of the company’s stock valued at $11,859,000 after purchasing an additional 9,097 shares during the period. Zevin Asset Management LLC purchased a new position in Datadog during the 4th quarter worth $9,748,000. Finally, Midwest Professional Planners LTD. boosted its holdings in Datadog by 7.8% during the 4th quarter. Midwest Professional Planners LTD. now owns 3,475 shares of the company’s stock worth $497,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analyst Ratings Changes

DDOG has been the topic of a number of analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a report on Thursday, January 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price objective on shares of Datadog in a report on Tuesday, March 4th. Barclays cut their price objective on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Jefferies Financial Group lifted their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Rosenblatt Securities lifted their price objective on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Datadog Trading Down 1.2 %

Shares of NASDAQ DDOG opened at $103.17 on Friday. Datadog, Inc. has a 12 month low of $98.30 and a 12 month high of $170.08. The firm has a market capitalization of $35.36 billion, a price-to-earnings ratio of 202.30, a PEG ratio of 44.03 and a beta of 1.22. The business has a 50-day moving average of $127.67 and a 200-day moving average of $130.80.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. On average, analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Transactions at Datadog

In other Datadog news, President Amit Agarwal sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $147.99, for a total value of $3,699,750.00. Following the completion of the sale, the president now owns 195,667 shares of the company’s stock, valued at $28,956,759.33. This represents a 11.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 11,195 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $139.86, for a total value of $1,565,732.70. Following the completion of the sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $53,103,862.98. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 626,412 shares of company stock valued at $79,144,334. 11.78% of the stock is owned by corporate insiders.

Datadog Company Profile

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.